France's Ubisoft postpones 'Assassin's Creed Shadows' release, cuts guidance
· CNA · Join:French videogame maker Ubisoft has postponed the release of "Assassin's Creed Shadows" by three months to Feb. 14, 2025 and cut its net bookings guidance.
Ubisoft said in a statement that net bookings are now seen falling from last year, to around 1.95 billion euros for the company's 2024-2025 fiscal year. For the second quarter through end-September, net bookings are expected to be worth around 350 million to 370 million euros, compared with the 500 million euros anticipated previously.
Shares in Ubisoft touched 10-year lows this month after a muted reception to the release of its "Star Wars Outlaws" game.
They closed at 11.42 euros on Wednesday, before Ubisoft released its statement.
Ubisoft had been betting on the two titles after four years of negative cash flows with game cancellations and delays.
"Beyond the first important short-term actions undertaken, the Executive Committee, is launching a review aimed at further improving our execution," CEO Yves Guillemot said in a press release.
The family-owned company said it is now departing from the traditional video game "Season Pass" model which gives access to current and future content, but added that those who preorder "Assassin's Creed Shadows" will be granted the first expansion for free.
"As the growth transformation continues, we may progress on our cost reduction initiative, with headcounts steadily decreasing over the first half," CFO Frederick Duguet said on a call with analysts.
Ubisoft also announced that "Star Wars Outlaws" will be available on the Steam store on Nov. 21.
(Reported by Mathias de Rozario; Editing by Kirsten Donovan)
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app